Palo Alto Networks (NYSE:PANW) Rating Increased to Outperform at BMO Capital Markets


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Palo Alto Networks (NYSE:PANW) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, Briefing.com reports. The firm presently has a $455.00 price objective on the network technology company’s stock. BMO Capital Markets’ target price indicates a potential upside of 18.38% from the stock’s current price.

Several other brokerages have also commented on PANW. Wedbush upped their price objective on shares of Palo Alto Networks from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, November 17th. JMP Securities upped their price objective on shares of Palo Alto Networks from $310.00 to $430.00 in a report on Wednesday, February 17th. Oppenheimer restated an “outperform” rating and issued a $305.00 price objective on shares of Palo Alto Networks in a report on Thursday, February 11th. JPMorgan Chase & Co. lowered shares of Palo Alto Networks from a “neutral” rating to an “underweight” rating and set a $308.00 target price on the stock. in a report on Wednesday, December 9th. Finally, Monness Crespi & Hardt increased their target price on shares of Palo Alto Networks from $315.00 to $440.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $357.71.

NYSE:PANW opened at $384.35 on Tuesday. The company’s 50-day moving average is $372.13 and its two-hundred day moving average is $296.77. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.63 and a quick ratio of 1.63. Palo Alto Networks has a 1-year low of $125.47 and a 1-year high of $403.00. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of -123.98 and a beta of 1.50.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Sunday, February 21st. The network technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.43 by $0.12. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $985.90 million. During the same period in the prior year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that Palo Alto Networks will post -1.69 earnings per share for the current fiscal year.

In related news, President Amit K. Singh sold 1,378 shares of the stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $379.69, for a total value of $523,212.82. Following the transaction, the president now directly owns 127,310 shares of the company’s stock, valued at approximately $48,338,333.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 2,539 shares of the stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $393.42, for a total transaction of $998,893.38. Following the completion of the transaction, the executive vice president now directly owns 299,777 shares in the company, valued at $117,938,267.34. The disclosure for this sale can be found here. Insiders sold a total of 209,195 shares of company stock worth $68,692,035 over the last ninety days. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Global Investors LP acquired a new stake in Palo Alto Networks during the 4th quarter worth $670,667,000. Duquesne Family Office LLC boosted its stake in Palo Alto Networks by 457.8% during the 4th quarter. Duquesne Family Office LLC now owns 459,060 shares of the network technology company’s stock worth $163,145,000 after purchasing an additional 376,760 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth $94,102,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Palo Alto Networks during the 4th quarter worth $89,061,000. Finally, Clearbridge Investments LLC boosted its stake in Palo Alto Networks by 8.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,784,934 shares of the network technology company’s stock worth $989,738,000 after purchasing an additional 208,986 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software deployed on an end-customer's network as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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